‘Diabolical’ conditions: Qantas reports $1.7b loss, eyes December international flights

Qantas has reported a $1.7b statutory after-tax loss for the 2021 financial year, in which COVID-19 outbreaks kept planes grounded and delayed the airline’s long recovery from the pandemic. The result, which follows a $1.9b loss last year and a $840m profit in 2019, came as revenue fell 58% compared to 2020 - a fall of $12b compared to its pre-pandemic result in 2019. “This loss shows the impact that a full year of closed international borders and more than 330 days of domestic travel restrictions had on the national carrier,” Qantas CE Alan Joyce said. “By the end of this calendar year, it’s likely COVID will cost us more than $20b in revenue. The trading conditions have frankly been diabolical”. Despite the dire financial result, Qantas was optimistic that Australia hitting its 70 per cent vaccination target in November would enable a return to unrestricted domestic travel, and that international travel would gradually resume from December after 80% of the eligible population is vaccinated. Qantas said on Thursday it now planned to resume flights to “COVID-safe destinations” likely to include Singapore, the United States, Japan, the United Kingdom, Fiji, and New Zealand and Canada from the middle of December.<br/>